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Mrs. Soyol-Erdene, 36 years old, lives with her husband in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. She has been working as a consultant for a beauty cosmetics company and also translates from Chinese to Mongolian for a building company. Her husband has the position of mechanical engineer at the building company. Their daughter currently studies and lives in China.

Mrs. Soyol-Erdene is requesting a loan of 1,500,000 tugriks to purchase building and insulation materials, such as bricks, cement, planks, fiberglass and foam, to renovate their old nearly collapsed house. Using these materials, her husband will repair and insulate their house; thus, creating a comfortable and warm place. More importantly, the renovated house will have a positive impact on the environment – as the family decreases its coal consumption, the pollutants released into the air will reduce linearly. This borrower is a very hardworking individual who strives for a better future.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program,  which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About Credit Mongol

Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,420.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,075 helped Soyol-Erdene to purchase building and insulation materials.
87% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Jun 12, 2013
Jun 16, 2013
Currency Exchange Loss:
Mar 17, 2015